It took a little less than five years for Latvia to move from being the fastest growing economy in the EU to the fastest shrinking and then back to fastest growth again. This time the drivers of growth are different.

Republic of Latvia is located in the north-eastern Europe. It is washed by the Baltic Sea and the Gulf of Riga. In the north Latvia borders Estonia, in the east – Russia, in the south-east – Byelorussia, and in the south – Lithuania. The total length of the land border is1368 km, and the sea border – 498 km. The capital of Latvia – Riga is the largest city in the Baltic States.

Latvian information and communications technology (ICT) companies have world-class abilities. ICT exports are strong, and have proven themselves. Companies presently mainly selling mainly to the domestic market have the opportunity to grow and develop exports by transferring experience gained on the domestic market to neighboring countries and the wider European market.